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The revenues raised by payment of the open space fee shall be accounted for in a capital project fund. Separate and special accounts within the fund shall be used to account for revenues, along with any interest earnings on such account. These monies shall be used for the following purposes:

A. To pay for property acquisition, including right-of-way acquisition, design, engineering, construction and acquisition of the open space and public facilities designated in the fee resolution and reasonable costs of outside consultant studies related thereto;

B. To reimburse the city for designated public facilities constructed by the city with funds (other than gifts or grants) from other sources together with accrued interest; and

C. To reimburse the city for its costs incurred in establishing, updating, administering, and maintaining the open space fee in accordance with the Mitigation Fee Act, this chapter, and other applicable law.

(Ord. 2444 NCS §6 (part), 2012.)